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For an Oklahoma training scenario, a loan file reviewer is training staff on licensing and NMLS authority. Which answer should be used?

Correct Answer

D) Oklahoma Department of Consumer Credit has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

Oklahoma Department of Consumer Credit has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

Answer Options
A
Delay the Oklahoma requirement until after the loan closes or the renewal period ends.
B
Treat consumer consent as a cure for a prohibited or missing compliance step.
C
Treat the timing or filing requirement as optional if the transaction appears low risk.
D
Oklahoma Department of Consumer Credit has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

Why This Is the Correct Answer

Oklahoma Department of Consumer Credit has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

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